27-Jun-06
New York, June 27th, 2006 - Odyssey Asset Management Systems, a global leader in wealth management & private banking solutions, and NorthStar Systems International Inc., a US leader in enterprise wealth management solutions, have announced a strategic technology and joint marketing alliance to create the world's premier global wealth management platform across both private client and investment management.
Through the provisions of this partnership Odyssey will integrate NorthStar's wealth management solutions (Sales & Proposals, Planning, Product Catalog & Research, Portfolio Construction and Client Wealth Management) and subsystems (Client Hierarchy and Enterprise Product Hub) with the Odyssey Component Suite (OCS). OCS delivers advanced portfolio management, relationship management & reference data management capabilities to serve the front & middle offices of wealth & asset managers worldwide. In addition, both companies will refer opportunities and jointly market to each other's prospects and clients across the globe.
"Our alliance with NorthStar allows Odyssey to better serve our clients by providing the leading wealth management solution for asset gathering and asset servicing," said Antoine Duchateau, Chairman of Odyssey Asset Management Systems. "We are very committed to providing our clients with superior service and state of the art technology to help them gain greater efficiencies and a competitive advantage. This alliance with NorthStar enables us to continue to deliver on that commitment," added Mr. Duchateau.
"By partnering with Odyssey, we at NorthStar can now expand our combined offering to service global wealth management firms that require best of breed wealth & investment management solutions," said Robert Zangrillo, Chairman & CEO of NorthStar. "This alliance creates a market leading offering that will allow our joint clients to leverage the best of breed solutions from the two premier wealth management providers together capable of supporting large-scale global deployments."
About NorthStar
NorthStar is a leading provider of enterprise-class advisory software solutions for financial services institutions, including broker dealers, banks & trusts, asset managers, and service providers to Registered Investment Advisors (RIA). NorthStar offers an integrated suite of advisory solutions built on an enterprise wealth management platform that drives the full lifecycle of advisory processes in an integrated, streamlined manner, and significantly improves advisory efficiency and effectiveness across the firm. NorthStar is backed by venture capital firms Benchmark Capital, H.I.G. Capital, Chess Ventures, Silicon Valley Bank as well as leading financial services institutions including Goldman Sachs, Morgan Stanley and Merrill Lynch. For more information, please visit www.northstar.com
About Odyssey
Odyssey Asset Management Systems is one of the leading providers of private banking, wealth & asset management technology worldwide. Nearly 200 financial institutions in the U.S., Canada and 27 other countries use Odyssey applications. The Company is ranked as the No. 1 vendor of private client platforms in Europe. Odyssey delivers three primary solutions within the Odyssey Component Suite that can be implemented as one fully-integrated platform, or as independent components linked to our clients' existing applications:
Portfolio Manager Workstation - Robust portfolio management and industrialized rebalancing solution that can handle from a few thousand up to one million portfolios
Relationship Manager Workstation - Comprehensive relationship & contract management platform for clients and prospects.
Nexus - Flexible SMF and data repository extensible to include portfolio, position & performance data and designed specifically for the asset management industry.
Odyssey markets solutions to private banks, asset managers, wealth managers and large brokerage firms worldwide.
Kristine Solf
Marketing Officer
Tel: +352 42 60 801
email: ksolf@odyssey-group.com
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